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New Binding Ocean Treaty Coming?

The U.N. General Assembly (UNGA) last week adopted a formal resolution to develop a legally-binding treaty for the conservation of marine biodiversity on the ‘high seas’.

The new ocean regulations are proposed to include: area-based management tools, such as marine planning and marine protected areas; environmental impact assessment (EIA) requirements; the transfer of marine technology; and a regime for managing marine genetic resources, including benefit-sharing. These developments have potentially significant implications for ocean economic activities, such as shipping, oil and gas, cruise tourism, fishing, marine mining, biotechnology, submarine cable, as well as for related sectors, such as maritime law, insurance and investment.

Apparently they are seeking comment with a meeting scheduled for November in Singapore.

What are the chances we will see some results from this? Given how long it took to have UNCLOS accepted, I would not expect anything soon, but you have to start somewhere.